Q: If you borrow $140,000.00 from your bank at rate of simple interest of 3% for a period of 5 years to start up your business, how much will you owe in simple interest at the end of the life of the

loan? Answer: $140,000.00 x .03 x 5 years

A: If you borrow $140,000.00 from your bank at rate of simple interest of 3% for a period of 5 years to start up your business, the interest you will owe at the end of 5 years is $21,000. 140,000*.03*5=21,000

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Asked 1/1/2013 10:20:43 AM

Updated 1/1/2013 11:58:49 AM

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If you borrow $140,000.00 from your bank at rate of simple interest of 3% for a period of 5 years to start up your business, the interest you will owe at the end of 5 years is $21,000.

140,000*.03*5=21,000

140,000*.03*5=21,000

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